Chapman Tripp advises Canadian roofing company IKO on Fletcher Building's sale of international roofing products manufacturer Roof Tile Group (RTG).
Chapman Tripp provided counsel to IKO in acquiring RTG, while Bell Gully advised Fletcher Building on the sale. The deal settled on Thursday 1 November.
The Chapman Tripp deal team was led by partner Tim Tubman, with partners Kelly McFadzien and Bevan Miles, senior solicitor Luke Bowers and senior legal advisor Robert Grignon.
Commenting on the deal, Tim Tubman said, “The deal was unique and more complex than usual, due to the geographic spread of the RTG business. We advised IKO on all aspects of the sale and managed inputs from overseas counsel."
Bell Gully partner Brynn Gilbertson said that the firm was pleased to have had the opportunity to work alongside the legal team of long-term client Fletcher Building to complete one aspect of the company's strategy of divesting its international operations and focusing its capital and capability on its New Zealand and Australian businesses.
The Bell Gully team also included partner James Cooney, senior associates Jennifer Coote and Phil Leightley and solicitor Chloe Domett.
The sale price for RTG will be subject to a post-completion working capital adjustment.
RTG is a manufacturer and distributor of metal roof tiles, operating under the Gerard and Decra brands. It employs 450 people, manufactures in four countries, and sells products globally.